Podcast
Questions and Answers
What concept does the Ferris wheel metaphor illustrate in selling?
What concept does the Ferris wheel metaphor illustrate in selling?
- The need for constant customer turnover without follow-up.
- The significance of advertising more than personal selling.
- The one-time sale approach in customer interactions.
- The importance of maintaining customer relationships over time. (correct)
According to the Ferris wheel analogy, how should a salesperson treat the customers?
According to the Ferris wheel analogy, how should a salesperson treat the customers?
- As permanent clients who will never need another car.
- As potential repeat buyers to monitor over a period. (correct)
- As temporary seats that need constant filling.
- As individuals who buy cars only once in a lifetime.
What should a salesperson do to stay ahead of competition?
What should a salesperson do to stay ahead of competition?
- Keep detailed records on customers' buying patterns. (correct)
- Wait for customers to reach out when they are ready.
- Focus on new customers exclusively.
- Contact customers just when they show intent to buy.
What sort of information is valuable for a salesperson when following a customer?
What sort of information is valuable for a salesperson when following a customer?
What is indicated by the statement 'nobody buys a car forever'?
What is indicated by the statement 'nobody buys a car forever'?
What is the main strategy emphasized for finding potential customers?
What is the main strategy emphasized for finding potential customers?
What does the author suggest you do when speaking to a current customer?
What does the author suggest you do when speaking to a current customer?
Why is maintaining a mailing list deemed valuable?
Why is maintaining a mailing list deemed valuable?
What does Girard's Law of 250 suggest?
What does Girard's Law of 250 suggest?
How should salespeople approach their profession according to the author?
How should salespeople approach their profession according to the author?
What kind of personal records does the author recommend using for prospects?
What kind of personal records does the author recommend using for prospects?
What overall approach should salespeople take when they see customers, according to the author?
What overall approach should salespeople take when they see customers, according to the author?
What is a disadvantage of mailing to a large list of prospects?
What is a disadvantage of mailing to a large list of prospects?
What type of prospects does the author emphasize is particularly valuable?
What type of prospects does the author emphasize is particularly valuable?
What is one potential outcome of effectively using a customer mailing list?
What is one potential outcome of effectively using a customer mailing list?
Flashcards
Ferris Wheel Selling
Ferris Wheel Selling
A sales strategy that involves continuously nurturing relationships with potential customers, even if they aren't ready to buy immediately.
Planting and Harvesting
Planting and Harvesting
The process of building a relationship with a potential customer over time, knowing their needs and preferences, and remaining in touch.
Keeping Proper Records
Keeping Proper Records
A way to track customer progress and predict their future buying behavior.
Ready to be Sold
Ready to be Sold
Signup and view all the flashcards
The Only Salesman
The Only Salesman
Signup and view all the flashcards
Expanding Your Prospect List
Expanding Your Prospect List
Signup and view all the flashcards
The Value of Your Bills
The Value of Your Bills
Signup and view all the flashcards
Make Sure Everybody Knows What You Sell
Make Sure Everybody Knows What You Sell
Signup and view all the flashcards
Girard’s Law of 250
Girard’s Law of 250
Signup and view all the flashcards
Pride in Your Profession
Pride in Your Profession
Signup and view all the flashcards
Study Notes
Selling Strategies
- Selling is like planting and harvesting continuously, or filling seats on a Ferris wheel.
- The Ferris wheel analogy: The wheel keeps turning, with customers getting off and new ones getting on.
- Customers buy products for a specific time (e.g., 2-5 years). Using files and records allows you to anticipate customer needs and be there when they want to buy again.
Customer Relationships
- Records are essential to anticipate customer needs (e.g., Steve Kowalski's car, creditworthiness, purchasing times).
- Be proactive in keeping track of customer information and their potential purchase cycles.
- Not all potential customers will be forthcoming or easy to identify. This is part of the process.
- Don't get discouraged; keep in touch and make connections.
- Follow up with leads, even if they seem uninterested or a sale doesn't immediately happen.
Building & Maintaining Prospect Lists
- Maintaining detailed records of customers (past and present) is valuable.
- Lists of prospects are essential (solid prospects, regardless of size). Every lead is worth pursuing.
- Using a mailing list allows outreach to a large pool of potential customers.
- This approach, though potentially expensive, is an effective way to generate sales.
- Personal address books and files are sources of prospects
- People you buy from can become prospects too, reciprocating business relationships. (e.g., car salesman buying from a mechanic)
- Keep track of customer's needs and what other goods they might need.
- Remember to leverage Girard's Law of 250; people talk to many people daily and discuss various topics.
Importance of Brand Awareness
- Salespeople should be proud of their profession and proactively let everyone know what they sell.
- Don't be afraid to promote your services or products.
- Sales have a significant impact on wider industry and economic activity.
- Building relationships with customers is just as important as closing the sale.
- By helping others you're also helping yourself.
Lead Generation
- Make sure all contacts and customers know what you sell.
- Gather information on buyers that are not just about buying but also about needs, desires, and potential future needs.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
